Navitas Semiconductor (NASDAQ:NVTS) Stock Price Down 2.6% – Time to Sell?

Shares of Navitas Semiconductor Corporation (NASDAQ:NVTS) fell 2.6% during trading on Friday . The company traded as low as $10.74 and last traded at $11.46. 13,133,353 shares changed hands during mid-day trading, a decline of 52% from the average session volume of 27,445,195 shares. The stock had previously closed at $11.76.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Morgan Stanley restated an “underweight” rating and set a $13.70 price objective on shares of Navitas Semiconductor in a research note on Wednesday, May 6th. Weiss Ratings upgraded shares of Navitas Semiconductor from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, June 17th. Rosenblatt Securities lifted their price target on Navitas Semiconductor from $7.00 to $13.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. Robert W. Baird boosted their price target on Navitas Semiconductor from $9.00 to $20.00 and gave the stock an “outperform” rating in a research report on Monday, May 4th. Finally, Wall Street Zen upgraded Navitas Semiconductor from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Two analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $14.74.

Navitas Semiconductor Price Performance

The stock has a market capitalization of $2.68 billion, a P/E ratio of -18.19 and a beta of 3.82. The stock’s 50-day simple moving average is $21.07 and its 200 day simple moving average is $14.00.

Navitas Semiconductor (NASDAQ:NVTS) last issued its quarterly earnings data on Tuesday, May 5th. The company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.01. The company had revenue of $8.60 million for the quarter, compared to analyst estimates of $8.22 million. Navitas Semiconductor had a negative net margin of 330.67% and a negative return on equity of 14.30%. The company’s revenue was down 38.7% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.06) earnings per share. As a group, analysts expect that Navitas Semiconductor Corporation will post -0.39 earnings per share for the current fiscal year.

Insider Activity at Navitas Semiconductor

In other news, Director Gary Kent Wunderlich, Jr. sold 73,000 shares of the business’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $28.11, for a total transaction of $2,052,030.00. Following the completion of the sale, the director owned 13,964 shares in the company, valued at $392,528.04. The trade was a 83.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Ranbir Singh sold 3,060,118 shares of the company’s stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $29.29, for a total value of $89,630,856.22. Following the completion of the transaction, the director directly owned 15,607,533 shares in the company, valued at $457,144,641.57. The trade was a 16.39% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 3,989,478 shares of company stock worth $116,356,387 in the last quarter. Corporate insiders own 12.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Allworth Financial LP increased its position in Navitas Semiconductor by 309.4% during the 3rd quarter. Allworth Financial LP now owns 3,570 shares of the company’s stock worth $26,000 after buying an additional 2,698 shares during the period. NewEdge Advisors LLC lifted its holdings in shares of Navitas Semiconductor by 189.8% during the second quarter. NewEdge Advisors LLC now owns 4,492 shares of the company’s stock worth $29,000 after buying an additional 2,942 shares in the last quarter. Beaird Harris Wealth Management LLC boosted its position in shares of Navitas Semiconductor by 247.8% in the second quarter. Beaird Harris Wealth Management LLC now owns 1,739 shares of the company’s stock valued at $31,000 after acquiring an additional 1,239 shares during the period. GAMMA Investing LLC boosted its position in shares of Navitas Semiconductor by 116.5% in the fourth quarter. GAMMA Investing LLC now owns 4,736 shares of the company’s stock valued at $34,000 after acquiring an additional 2,548 shares during the period. Finally, Geneos Wealth Management Inc. grew its stake in shares of Navitas Semiconductor by 3,200.0% in the first quarter. Geneos Wealth Management Inc. now owns 4,125 shares of the company’s stock valued at $36,000 after acquiring an additional 4,000 shares in the last quarter. 46.14% of the stock is owned by institutional investors and hedge funds.

Navitas Semiconductor Company Profile

Navitas Semiconductor is a fabless semiconductor company specialized in gallium nitride (GaN) power integrated circuits. The company’s core mission centers on delivering high-efficiency, high-power-density power solutions that address the needs of modern electronic devices, ranging from fast chargers for consumer electronics to industrial and automotive power systems.

Navitas offers a portfolio of GaNFast power ICs designed to replace traditional silicon-based power components. These products integrate GaN transistors, drivers and protection features into single-chip solutions, enabling faster charging, reduced energy loss and smaller power supply footprints.